ADX’S market value up $29.23b in Q2
ABU DHABI: Abu Dhabi Securities Exchange (ADX) has recorded its highest rise in terms of market value and trading value at end of the second quarter of 2022, according to the Arab Monetary Fund (AMF).
In its quarterly bulletin on the performance of Arab stock markets issued on Wednesday, the AMF noted that the ADX achieved an increase of $29.23 billion in terms of market value, rising from $513.19 billion at the end of the first quarter of 2022 to $542.42 billion in the second quarter of 2022.
The report also pointed out that the market value of the Dubai Financial Market increased by some $24.45 billion, reaching $143.57 billion by end of the second quarter of 2022, compared to $119.12 billion in the first quarter.
The AMF report also noted that the market value of Arab financial markets listed in its database dropped by about 2.86 per cent, equivalent to nearly $126.89 billion, reaching some $4,311.93 billion by end of the second quarter of 2022, noting that most of performance indicators of Arab stock exchanges witnessed consistent declines.
The report added that several Arab markets declined in performance due to interest rate rises by the US Federal Reserves and a number of international banks in the Arab region, as well as inflationary pressures.
Abu Dhabi Securities Exchange and Bahrain Bourse (BHB) announced recently the launch of the region’s first digital exchange hub – Tabadul, with an official bell ringing ceremony live streamed from BHB and the ADX headquarters.
Tabadul was the result of the signed strategic partnership agreement in November 2021 between ADX and BHB to implement a cross-border plan in trading and post-trading environments. Based on the mutual market access model, Tabadul will allow investments across Bahrain Bourse and Abu Dhabi and enable investors to trade directly on both exchanges through licensed brokers in both markets.